Washington State Allows CU Board Member Compensation

The governor of Washington State, Jay Inslee, signed a law yesterday that will allow state-chartered credit unions to pay their board members.

The bill had the backing of the Northwest Credit Union Association, which helped draft the legislation and endorsed it in House and Senate hearings earlier this year.

Supporters of the bill say that compensation could help credit unions attract a more diverse group of board members with skills that could help the credit union movement.

Washington is the 11^th state to make the change from the traditional credit union model. Click here to learn more.